Digital Currency

Bank of Israel Drafts Model of a Digital Shekel

<div class=”featured_image_container”> </div> <strong>The central bank of Israel has offered a glance at what a digitalized version of the national fiat currency may look like. According to a released “draft model” of the coin, Israelis should be able to use the digital shekel in payments, even offline, and convert it to cash at any moment. …

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Israel’s central bank floats possible digital shekel with new action plan

The Bank of Israel is accelerating its research for the potential issuance of a central bank digital currency. In a statement from the central bank today, the Bank of Israel said it was preparing an action plan to explore the benefits of a digital shekel on the economy. Though the bank said it had not …

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Kenyan Capital Markets Regulator Wants Better Coordination With Other Bodies When Testing Crypto Assets

<div class=”featured_image_container”> </div> <strong>Kenya’s Capital Markets Authority (CMA) says the country needs a more encompassing approach that enables it to leverage other regulators’ expertise when testing crypto assets. </strong> Kenyan Crypto Interest Also, the Kenyan body, which favours a joint financial sector regulatory sandbox, says it is keen to forge “a common stance and joint-messaging …

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Fintechs Invited to Work on Georgia’s Central Bank Digital Currency

<div class=”featured_image_container”> </div> <strong>National Bank of Georgia (NBG) has issued a call for companies in the fintech sector, financial institutions and technology firms to support its efforts to create a digital currency. Georgia’s central bank wants to employ new technologies to raise the efficiency of the country’s payment system and promote financial inclusion. </strong> Georgia’s …

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European Central Bank releases results of digital euro consultation

The European Central Bank has published the results of a public consultation on a potential digital euro as the institution inches closer to deciding whether to formally study such an initiative.  According to a Wednesday announcement, the ECB received more than 8,200 responses to its public digital euro consultation — a personal record for the bank regarding …

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An ECB Board Member Attacks Bitcoin, Says It ‘Does Not Fulfill the Basic Properties of Money’

<div class=”featured_image_container”> </div> <strong>Isabel Schnabel, a board member with the European Central Bank (ECB), has attacked bitcoin claiming the crypto asset “does not fulfill the basic properties of money.” She also describes bitcoin as a “speculative asset without any recognizable fundamental value and is subject to massive price swings.” Schnabel also surmises that trust in …

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Paypal Cofounder Peter Thiel Thinks China Is Using Bitcoin as Financial Weapon Against the US

<div class=”featured_image_container”> </div> <strong>According to Paypal cofounder Peter Thiel, the Chinese government, which detests the U.S. dollar’s reserve currency status, could be using bitcoin as a financial weapon against the U.S. While he concedes that China has no intentions of making the yuan renminbi a reserve currency, Thiel still thinks the Asian country may have …

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China using Bitcoin as ‘financial weapon’ against United States: Peter Thiel

PayPal co-founder and venture capitalist, Peter Thiel, has warned that the Chinese central government may be supporting Bitcoin as a means to undermine the foreign and monetary policy of the United States. But, he added, it has tried to use the Euro the same way. Speaking at a virtual event hosted by conservative non-profit, the …

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Indian IT giant Tech Mahindra to launch stablecoin tool for banks

Indian multinational technology firm Tech Mahindra is developing a new stablecoin service targeting banks and financial institutions. The tech giant announced Monday that it has entered into an agreement with Dutch blockchain application incubator Quantoz to launch a “stablecoin-as-a-service” tool to reduce transaction costs and processing times. The new collaboration targets potential clients from the …

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Starbucks Customers Can Now Pay With Bitcoin via Bakkt’s Digital Wallet App

<div class=”featured_image_container”> </div> <strong>Starbucks customers can now pay for items with bitcoin by leveraging the Bakkt digital wallet application. Bakkt’s CEO, Gavin Michael explained that 500,000 users participated in testing before the launch, as the company says it looks forward to expanding crypto assets to everyone.</strong> You Can Now Pay for Goods at Starbucks With …

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